Blog
Don’t Let Your Company Get Struck Off: CRO Resumes Enforcement
By Bébhinn Egan, 7th February 2025
In a significant development for Irish businesses, both the Companies Registration Office (CRO) and Register of Beneficial Ownership (RBO) have intensified their involuntary strike-off campaign. The latest CRO Gazette reveals the first wave of companies affected by this renewed initiative.
What’s Happening?
Section 726(h) of the Companies Act 2014 to strike off companies failing to file the details of their Beneficial Owner/Senior Managing Officials. Companies incorporated in July 2024 who missed their 5-month filing deadline are now receiving 14-day warning notices.
The Serious Implications of Strike-Off
Being struck off the register isn’t merely an administrative inconvenience – it’s potentially catastrophic for your business:
- Directors lose their limited liability protection
- Personal liability for company debts becomes a reality
- Risk of director disqualification increases significantly
- Company assets become property of the state
Protecting Your Business
Maintaining compliance with CRO and RBO requirements isn’t just good practice – it’s essential for your company’s survival. Regular filing of returns and keeping director information up-to-date are fundamental responsibilities that shouldn’t be overlooked. It’s also crucial to make timely RBO filings within 5 months of incorporation and ensure beneficial ownership details are kept accurate and up to date.
Take Action Now
If you’re concerned about your company’s compliance status, now is the time to act. Ensure all your filings are current and accurate to avoid becoming part of the next strike-off list. With the 14-day RBO response window and active CRO enforcement, immediate action is crucial. Review all companies under your management, particularly dormant ones, to ensure compliance with both CRO and RBO requirements.
Remember: Prevention is always better – and far less costly – than trying to remedy a strike-off after it occurs. For a confidential consultation regarding your company’s compliance status, contact our specialist team today.
Disclaimer: This article is for guidance purposes only. It does not constitute legal or professional advice. No liability is accepted by Company Bureau for any action taken or not taken in reliance on the information set out in this article. Professional or legal advice should be obtained before taking or refraining from any action as a result of this article. Any and all information is subject to change.
